Mn Services Vermogensbeheer B.V. Has $34.01 Million Stock Position in Trane Technologies plc $TT

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Trane Technologies to 87,376 shares, valued at $34.01 million after a 3.1% boost in Q4, while institutional investors own 82.97% of the company.
• Analysts give Trane a consensus rating of "Moderate Buy" with an average price target of $484.67, above the recent share price.
• Trane beat Q4 estimates (EPS $2.86 vs $2.81) with revenue up 5.6% year-over-year, and raised its quarterly dividend to $1.05 (annualized $4.20) with an ex-dividend date of March 6 and a payment date of March 31.

Mn Services Vermogensbeheer B.V. boosted its stake in Trane Technologies plc (NYSE:TT - Free Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,376 shares of the company's stock after acquiring an additional 2,603 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Trane Technologies were worth $34,007,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MOR Wealth Management LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at $566,000. Goelzer Investment Management Inc. lifted its holdings in Trane Technologies by 230.0% in the fourth quarter. Goelzer Investment Management Inc. now owns 1,650 shares of the company's stock valued at $642,000 after buying an additional 1,150 shares during the period. Wealthcare Advisory Partners LLC boosted its position in Trane Technologies by 2.4% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 4,848 shares of the company's stock valued at $1,887,000 after acquiring an additional 115 shares during the last quarter. JFS Wealth Advisors LLC grew its holdings in Trane Technologies by 26.7% during the 4th quarter. JFS Wealth Advisors LLC now owns 166 shares of the company's stock worth $65,000 after acquiring an additional 35 shares during the period. Finally, Capital Investment Advisors LLC grew its holdings in Trane Technologies by 18.8% during the 4th quarter. Capital Investment Advisors LLC now owns 997 shares of the company's stock worth $388,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TT. Citigroup boosted their price objective on Trane Technologies from $513.00 to $525.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Royal Bank Of Canada raised their target price on Trane Technologies from $469.00 to $470.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. Melius Research upgraded Trane Technologies from a "hold" rating to a "buy" rating and set a $490.00 target price for the company in a report on Wednesday, January 7th. Weiss Ratings restated a "buy (b)" rating on shares of Trane Technologies in a report on Wednesday, January 21st. Finally, KeyCorp raised shares of Trane Technologies from a "sector weight" rating to an "overweight" rating and set a $500.00 price objective for the company in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $484.67.

Trane Technologies Price Performance

TT stock opened at $403.90 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The company's 50-day moving average is $433.92 and its 200-day moving average is $417.55. The stock has a market capitalization of $89.39 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the company posted $2.61 EPS. The firm's revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.05 per share. This is a positive change from Trane Technologies's previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. Trane Technologies's dividend payout ratio is presently 32.36%.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,762 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the transaction, the insider directly owned 3,819 shares in the company, valued at $1,614,291.30. This trade represents a 49.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares of the company's stock, valued at approximately $3,001,170. The trade was a 8.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 49,378 shares of company stock valued at $21,228,464 over the last ninety days. Company insiders own 0.14% of the company's stock.

About Trane Technologies

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.